How do I identify my target market?
I'm sure we've all come across the salesman who has a product he claims that everyone can benefit from. However, you know that no such product exists. There is really no silver bullet. Matter of fact, everyone that has a product for every market ends up on the heap.
You must learn to target your market. You have to define your niche. For example, you may be selling vacuum cleaners, but your target market is not everyone. You may have to go door to door and identify homeowners that are receptive to using your product. Your goal would be to demonstrate your product to your client until you make a sale.
However, if you're targeting everyone it's because you don't understand who your target market is. Some have called this your avatar. It's your audience. It's those who will pay attention to what you have to sell and are more likely to buy. The more you target them the more likely you will end up making sales. If on the other hand you go to everyone, say your family and friends, then you're not really targeting anyone. You're looking for those who might have an interest in your product.
If you have a large family and a large group of friends, you'll end up finding someone interested. However, this is your warm market. They are willing to listen to your pitch so that they can see whether they know someone who'd be interested or they're interested in your product. However, most of the time friends and family are doing you a favor, because they know and trust you.
When you go to the cold market, if you pitch to everyone you won't make many sales if any at all, depending on your marketing budget. When you go to the cold market, your goal is to get them warmed up to your offer by leveraging what they are already interested in. For example, if you call out to every young male between the ages of 16 to 29 that have a beard, you'll find that crowd, especially if you're marketing some razor blades to them. Now that's a very specific market. We can target it down even more by going for this market in the city of St. Paul, MN. Now we've gotten even more specific.
What I want you to do is take the time to understand who your real target market is. You have a product and there's a market if you go after them you won't have to market hard to them because they are already the right audience for the product. Matter of fact, they may already be using a competitor's product. Your goal is to single them out so they pay attention to your pitch. If you call out to everyone then you might as well call fire in crowd. At first, everyone will move, but when they find out there's no fire they will simply not listen to your second call.
When you've defined your market, you can call out to them and then again and again and they'll pay an attentive ear because you're speaking their language.
If you're having trouble specifying your target market, we can help. Let's book a Coaching Session and we'll also show you how to find that market and your competitors markets on various media like Facebook and YouTube while we're at it.
My focus is to help you leverage online marketing strategies to bring you more clients, while helping you sell more to your current customers. Let's book a Free Strategy Session Now.